Making Regular Payments

Making lots of individual payments can be an expensive and time consuming process, but it doesn't have to be! We can help take the effort and uncertainty out of your regular payments to ensure you know exactly how much money you will be paying or receiving each month.

When you live abroad or own a home overseas, alongside the exciting new lifestyle there will be a constant flow of money between countries and currencies.

There are many reasons you might be sending regular payments overseas. Perhaps you’re paying a mortgage and homeowners’ association fees. You will definitely have maintenance costs, utility bills and local taxes. If you live overseas but have family “back home”, you might be sending school fees or helping with university costs.

If your income comes from abroad – such as investment income or a pension – constantly changing exchange rates will make accurate budgeting impossible. You can also find yourself paying a small fortune in bank charges.

Fortunately, there is a solution, an arrangement with Smart Currency Exchange. Smart is a payments specialist, authorised by the UK’s financial regulator, the FCA, and the highest rated company on Trustpilot for money transfer and currency exchange, with a rating of 9.9 out of 10.

Speak to a currency expert today

Take the time and effort out of your regular payments. We can simplify your regular payments whilst also helping you avoid being at the mercy of falling exchange rates at the date of each of your payments.

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Making regular payments: Issues and solutions

There are three main issues with making regular payments into another country and currency. At Smart we have a solution for each.

1. Currency volatility wrecking your budget

Exchange rates change by the minute. It’s called volatility, and if you don’t allow for it your monthly bills change by the minute too. Suppose you have a beautiful holiday home in Mallorca which is costing you €5,000 per month in total for all the costs – mortgage, maintenance, taxes etc. If the exchange rate is €1.30 to the pound, it’s costing you £3,845 a month. But if the pound drops to €1.10 your monthly bill has risen to £4,545 and you are losing £700 per month. To avoid that risk, with Smart you could have taken out a Forward Contract, letting you lock in the €1.30 rate for the whole year. This not only avoids the risk of a serious loss of money, but ensures you have peace of mind that your bills will be met.

2. The expense of short-term solutions

Different financial institutions offer different exchange rates. Airport exchange bureaus offer notoriously poor rates, but we might accept that for the quick fix of getting a little cash for a weekend away. If you are making frequent but smaller payments overseas it is easy to get into the bad habit of paying too much, even with your high street bank.

3. Don’t miss a payment

If international payments go missing, sorting matters out in another language and with another country’s bureaucracy can be agonisingly slow. Smart won’t let that happen. We offer a fully-automated transfer service for those smaller but equally vital payments. Most currency transactions can be accomplished easily using our online service, but your dedicated currency consultant will be available on the phone if you ever need him or her.

Hold onto your profits

We’ve talked about paying bills, but what about the nicer things, like money coming back into your account every month?

Renting a property can be highly profitable, or you may have investment income from a different country to where you live now. For those transfers, back to your primary account, Smart has a safe and hassle-free solution that won’t take a giant chunk out of your earnings.

Download a free guide

When buying a property overseas, transferring a large sum of money is inevitable so you need to be sure to plan your transfers in advance to ensure you avoid the risk of exchange rates moving against you. Learn more with our dedicated guide.

Open an account today

Gain access to one of our dedicated currency traders and get expert guidance on the best way to manage your transfers by registering for an account. All guidance is provided for free, no payment details are needed and there is no obligation to use us.

Rated Excellent for Currency Exchange & Money Transfers

Smart have been great and helped me with my property purchase in Spain and setting up regular payments to deal with all the bills! Great service, money always arrives/sends when you say it will with no delivery delays.